Morning Juice – Europe Session Prep

Good Morning Traders.
It is Thursday the 3rd of April. Here is what to look out for today.

Sentiment
President Donald Trump imposed the steepest American tariffs in a century, stepping up his campaign to reshape the global economy and unnerving investors who see a trade war as a risk to US growth. Trump announced Wednesday he will apply at least a 10% tariff on all exporters to the US, with even higher duties on some 60 nations to counter large trade imbalances with the US Global financial markets were hit by a sweeping selloff after President Donald Trump’s bid to remake the world trading order proved more aggressive than expected. The European Union, the US’s largest trading partner, vowed to retaliate after President Donald Trump announced sweeping tariffs against the bloc in his bid to dismantle the global trading system. The US has hit China with the biggest-ever tariff hike on almost all Chinese products, bringing total levies to at least 54%, a move that could decimate Chinese shipments to the world’s largest economy. China firmly opposes US tariff move and vows to take counter measures to safeguard its own interests, according to a statement from the Ministry of Commerce Japan’s Trade Minister said the Trump administration’s latest broadside on tariffs is extremely regrettable and pushed for an exemption, hours after the US announced new levies on Japan that were higher than expected. Oil fell after US President Donald Trump rolled out stiff tariffs on major trading partners, including China and the European Union, that spared energy but ratcheted up a trade war that threatens global demand. South Korea’s interim leader Han Duck-soo urged officials to actively engage in negotiations with the US after President Donald Trump unveiled sweeping tariffs on trading partners that included higher duties for Seoul.

Docket
02:30 ET
Swiss CPI
YoY – 0.4% | Prior: 0.3% | Range: 0.6% / 0.2%
MoM – 0.1% | Prior: 0.6% | Range: 0.3% / -0.1%
Core YoY – 0.9% | Prior: 0.9% | Range: 1.1% / 0.8%

03:45 ET
Italian PMI
Services – 52.5 | Prior: 53 | Range: 54 / 52.1
Composite – 51.5 | Prior: 51.9 | Range: 52.1 / 50.9

03:50 ET
French PMI
Services – 46.6 | Prior: 46.6 | Range: 47 / 46.6
Composite – 47 | Prior: 47 | Range: 47.2 / 47

03:55 ET
German PMI
Services – 50.2 | Prior: 50.2 | Range: 50.5 / 50.2
Composite – 50.9 | Prior: 50.9 | Range: 50.9 / 50.9

04:00 ET
Eurozone PMI
Services – 50.4 | Prior: 50.4 | Range: 51 / 50.2
Composite – 50.4 | Prior: 50.4 | Range: 50.6 / 50.4

04:30 ET
UK PMI
Services – 53.2 | Prior: 53.2 | Range: 53.3 / 53
Composite – 52 | Prior: 52 | Range: 52.2 / 51.8

05:00 ET
Eurozone PPI
YoY – 2.9% | Prior: 1.8% | Range: 3.3% / 1.7%
MoM – 0.3% | Prior: 0.8% | Range: 0.8% / 0.1%

07:30 ET
ECB Meeting Minutes